Millions of Brits hit with ‘worrying’ £275 supermarket bill

The average UK household grocery bill is now £5,283 a year, according to analysts at Worldpanel, who warned that rising food prices could add nearly £300 a year to the cost

UK families are bracing for a £275 annual surge in grocery bills, according to recent warnings. As grocery price inflation leaps to 5.2 percent in July, consumers are increasingly opting for supermarkets’ own-brand products. Research suggests that escalating food prices could add nearly £300 to yearly household grocery expenses.

If these elevated prices persist, the average household grocery bill, currently standing at £5,283 per year, could see an additional £275, as projected by analysts at Worldpanel. Fraser McKevitt, Head of Retail and Consumer Insight at Worldpanel, revealed that almost two-thirds of households are “very concerned” about their grocery shopping costs.

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He noted: “Own-label products, which are often cheaper, continue to be some of the big winners and, in fact, sales of these ranges are again outpacing brands, growing by 5.6 percent versus 4.9 percent.”

Mr McKevitt further explained that these inflationary concerns are not only altering our purchasing habits but also how we prepare meals.

He said: “We often see people choosing to make simpler meals when they are trying to save money, and today, almost seven in 10 dinner plates include fewer than six components.”

Meanwhile, Sainsbury’s boss Simon Roberts told the Telegraph that major retailers would “pull away from our high streets”, as they grapple with a significant rise in national insurance contributions and a minimum wage increase, reports Birmingham Live.

Speaking to the paper, he expressed concern: “The changes being proposed will further increase the negative impact of business rates and won’t stimulate the growth or investment into our high streets and jobs that we all want to see.”

Helen Dickinson, the chief executive of the British Retail Consortium, also voiced her concerns in an interview with the Sunday Times.

Commenting on the situation facing UK supermarkets, Ms Dickinson noted: “Retailers are doing everything they can to shield customers from these mounting pressures, but there is only so much they can absorb before costs start feeding through to prices.”